For sale

Price cut: $30K (10/6)

$845,000

5 Willow Ave, Salem, MA 01970

5beds

2,229sqft

$5,693/mo

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2 Family - 2 Units Up/Down

Built in 1890

-- sqft lot

$826,600 Zestimate^®

$379/sqft

$-- HOA

What's special

One-car garageLow-maintenance patioVaulted bonus roomOne-bedroom one-bath unitFour bedroomsTwo baths

Location and value! Conveniently situated between downtown Salem and Salem State University, this updated two-family offers a strong rental history and a truly turn-key opportunity for an investor or owner-occupant. The first floor features a one-bedroom, one-bath unit, while the upper unit spans two levels with four bedrooms, two baths, and a vaulted bonus room. Unit 2 is now vacant and most recently rented for $4,000/month. A long list of upgrades, separate utilities, one-car garage, driveway, and low-maintenance patio add to the appeal. Enjoy easy access to downtown Salem’s shops, restaurants, commuter rail, and ferry to Boston, and don’t miss the small neighborhood beach at the end of the street!

30 days
2,751
165

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 3
Full bathrooms: 3

Features

Basement: Unfinished
Has fireplace: No

Interior area

Total structure area: 2,229
Total interior livable area: 2,229 sqft
Finished area above ground: 2,229

Property

Parking

Total spaces: 4
Parking features: Paved Drive, Off Street
Garage spaces: 1
Uncovered spaces: 3

Features

Patio & porch: Patio
Has view: Yes
View description: Water
Has water view: Yes
Water view: Water

Lot

Size: 2,448 Square Feet
Features: Level

Details

Parcel number: 2135047
Zoning: R1

Construction

Type & style

Home type: MultiFamily
Property subtype: 2 Family - 2 Units Up/Down

Materials

Foundation: Stone, Brick/Mortar
Roof: Shingle

Condition

Year built: 1890

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Bike Path, Conservation Area, House of Worship, Marina, Public School, University

Location

Region: Salem

Financial & listing details

Price per square foot: $379/sqft
Tax assessed value: $678,000
Annual tax amount: $7,309
Date on market: 9/16/2026
Exclusions: Tenant Possessions In Unit 1
Total actual rent: 2160

Estimated market value

$826,600

$785,000 - $868,000

$3,185/mo

Price history

Date	Event	Price
10/6/2026	Price change	$845,000-3.4%$379/sqft
Source: MLS PIN #73578416 Report a problem
9/30/2026	Listed for sale	$875,000$393/sqft
Source: MLS PIN #73578416 Report a problem
9/22/2026	Contingent	$875,000$393/sqft
Source: MLS PIN #73578416 Report a problem
9/16/2026	Listed for sale	$875,000+70.6%$393/sqft
Source: MLS PIN #73578416 Report a problem
6/29/2018	Sold	$513,000+8%$230/sqft
Source: Public Record Report a problem
5/24/2018	Pending sale	$474,900$213/sqft
Source: Coldwell Banker Residential Brokerage - Lynnfield #72330458 Report a problem
5/18/2018	Listed for sale	$474,900+30.1%$213/sqft
Source: Coldwell Banker Residential Brokerage - Lynnfield #72330458 Report a problem
5/27/2015	Sold	$365,000$164/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$6,995 +4.2%	$616,800 +6.7%
2024	$6,716 +3.2%	$578,000 +11.1%
2023	$6,508	$520,200
2022	$6,508 +2.8%	$520,200 +13.4%
2021	$6,330 +2.2%	$458,700 +7%
2020	$6,195 +0.8%	$428,700 +5.3%
2019	$6,146 +7.6%	$407,000 +9.6%
2018	$5,712 +6.9%	$371,400 +10.3%
2017	$5,342 +2.8%	$336,800 +1.5%
2016	$5,198 +2.7%	$331,700 +7.6%
2015	$5,061 +13.2%	$308,400 +15.4%
2014	$4,472 +6.6%	$267,300 -0.4%
2012	$4,194 -0.4%	$268,300 -4.1%
2011	$4,211 +2%	$279,800 -5.1%
2010	$4,129 -2.1%	$294,700 -9.7%
2009	$4,218 +2.5%	$326,500 -7.4%
2008	$4,115 +1%	$352,600 -6.8%
2007	$4,074 +5.2%	$378,300 +9.5%
2006	$3,873 +4%	$345,500 +5.6%
2005	$3,725 +4.8%	$327,300 +7.8%
2004	$3,555 +22.4%	$303,600 +34.5%
2003	$2,905 +11.6%	$225,700 +17.4%
2002	$2,602 +21%	$192,300 +35.7%
1999	$2,150 +30.1%	$141,700 +8.5%
1994	$1,652	$130,600